Assuming a regulated world, what would be illegal?

[nextgencoin]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal. I wonder what other fun stuff we can kiss goodbye to if Bitcoin was regulated and stayed within the 'Law'

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[Hopalong]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal. I wonder what other fun stuff we can kiss goodbye to if Bitcoin was regulated and stayed within the 'Law'

As far as i know you can trade bitcoin in most of the countries, but you cant use it as a legal currency.

[unamis76]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal. I wonder what other fun stuff we can kiss goodbye to if Bitcoin was regulated and stayed within the 'Law'

I don't see anything being illegal as long as exchanges with BTC/Fiat pairs are registered and compliant with their countries laws. Bitcoin regulation can meet a middle point where mostly everything we do can still be done in a legal way, while still being regulated by minimum laws. that being said, I don't think regulation is key for Bitcoin development... And also there are some "regulations", but they don't really mess anyone's plans up, at least yet

[oblivi]

We'll probably see more and more (AML) Anti-Money Laundering & (KYC) Know Your Customer Policy + FinCen enforcing stuff into exchanges just like it happened to poloniex. Soon more and more exchanges will require credentials if you want to operate on there.

[aso118]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal. I wonder what other fun stuff we can kiss goodbye to if Bitcoin was regulated and stayed within the 'Law'

Trading on exchanges is definitely not illegal. You have to trust the exchange to comply with all local regulations. If it were illegal, then the regulators will act very quickly, given the amount of money involved.

[Outlander]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal.

If they don't comply with the law, they will be considered to be illegal.

As far as i know you can trade bitcoin in most of the countries, but you cant use it as a legal currency.

Actully bitcoin acts as a currency due to that it is used for daily transactions for many users.Although it is not officialy stated as legal currency at their state law.

We'll probably see more and more (AML) Anti-Money Laundering & (KYC) Know Your Customer Policy + FinCen enforcing stuff into exchanges just like it happened to poloniex. Soon more and more exchanges will require credentials if you want to operate on there.

More and more bitcoin related exchanges are complying with the law. I may have good effect on the adoptiong of their provided service and it will ease the concern of using them from the average Joe.

[Amph]

the good thing is that you can always use bitcoin for what you want no matter how much is regulated or it will be regulated, it's impossible for them to keep track of every bitcoin address and associated it to your name/house ecc

and this without even using a mixer other tricks, so what i want to say is that bitcoin will be both regulated and always free to use at the same time

[grendel25]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal. I wonder what other fun stuff we can kiss goodbye to if Bitcoin was regulated and stayed within the 'Law'

There's already examples of how awful over regulation can be but there are also examples of how lack of regulation can be just as bad.  Marijuana should never be illegal but big business mixed in with the false inclusion of religious values have made it illegal. 

It's up to people to make things right.  The only hope is for democracy to rule and for the average citizen to engage with their elected officials.  If we don't do that then we live like they live in Somalia.  Better hope you are good friends with the local war lord.

[Kprawn]

Well, regulation can be in any form eg :

1. Allowing people to own and trade Bitcoin, but not using it as a currency.
2. Banning merchants and vendors from accepting Bitcoin as a payment method.
3. Implementing very strict AML/KYC regulations, to slow it's adoption or to restrict it's use. {High licensing fee's would exclude small operators} New York
4. They can ban everything {trade & currency}
5. They can over TAX it, to kill it's usefulness. {Some countries do the opposite and exempt it from VAT}
6. They could place limits on the amount of coins that can be traded or owned.

Governments can basically do whatever they want to do. We are the puppets and they are the puppet masters... We can only make sure, we vote for the people we want to represent us there. In some countries this is

not even a option. Obama just told the African countries, that democracy is not just a free voting system... It's also the freedom to speak and to voice your needs and concerns as a citizen. 


 

[S4VV4S]

I was thinking of what is deemed illegal in the way people trade Bitcoin on exchanges and wondered if much of it is illegal. I wonder what other fun stuff we can kiss goodbye to if Bitcoin was regulated and stayed within the 'Law'

I don't see anything being illegal as long as exchanges with BTC/Fiat pairs are registered and compliant with their countries laws. Bitcoin regulation can meet a middle point where mostly everything we do can still be done in a legal way, while still being regulated by minimum laws. that being said, I don't think regulation is key for Bitcoin development... And also there are some "regulations", but they don't really mess anyone's plans up, at least yet

^^^This

We'll probably see more and more (AML) Anti-Money Laundering & (KYC) Know Your Customer Policy + FinCen enforcing stuff into exchanges just like it happened to poloniex. Soon more and more exchanges will require credentials if you want to operate on there.

^^^ And this.

Next step is fully and truly decentralized exchanges.
Even though it would probably get on all governments nerves, it is bound to happen at some point.

[Daniel91]

I'm sure that even if I will try to report to authorities in my country about my earnings from bitcoin, they will have no idea what is bitcoin and how to calculate taxes from such earnings.
I tried last year to report my earnings from Internet passive programs but had great difficulties to find a proper way to report it because such earnings are on on their list
In the end I had to report these earnings as a freelance artist.
Therefore, can be illegal something that is not provided by law, something that the authorities have no idea?
I think that in many countries bitcoin is not illegal because the authorities still do not consider the bitcoin seriously and have not included it in their legislation. It's still one big gray area.

[jaberwock]

Pay taxes to the state.

Anything else can be legal or tolerated even if illegal, but no state will forgive about non paid fees

[NorrisK]

I'm sure that even if I will try to report to authorities in my country about my earnings from bitcoin, they will have no idea what is bitcoin and how to calculate taxes from such earnings.
I tried last year to report my earnings from Internet passive programs but had great difficulties to find a proper way to report it because such earnings are on on their list
In the end I had to report these earnings as a freelance artist.
Therefore, can be illegal something that is not provided by law, something that the authorities have no idea?
I think that in many countries bitcoin is not illegal because the authorities still do not consider the bitcoin seriously and have not included it in their legislation. It's still one big gray area.

The. Dutch tax authority actually included a section to declare holdings of digital currencies This year. It is probably not far away in other countries too..

[Meuh6879]

illegal in regulate (mathematic) world ?

politics
war
... all stuff that it use QE ... 

[nextgencoin]

Maybe some of my point is missed. I'm saying technically the kind of trading going on including insider trading, whales manipulating the market etc which we are used to in Crypto but if we are regulated clearly becomes illegal, right?


Maybe other laws might be moving money over border etc. I know the country I live in only lets nationals move like 10,000 or maybe 50,000 a year out of the country. What i'm saying is what are we doing ilegal NOW which we have to worry about if the all seeing eye of the Gov DID regulate us.



.......I should add, this doesn't mean i'm gonna do it.